Dollar Thrifty Automotive Group Announces Management Re-Alignment
TULSA, Okla., Aug. 7, 2006 -- Dollar Thrifty Automotive Group, Inc. today announced a management realignment, streamlining the senior management structure, making it more nimble and efficient.
The changes, effective immediately, will decrease the total number of DTG management executives by 10 percent, while increasing the number of executives who report directly to Gary L. Paxton, President and Chief Executive Officer. A key result is to make the company's administrative and operating functions leaner, eliminate redundancies, and improve the reporting and decision making process.
Critical elements of this realignment are:
* The CEO expands his direct span of control.
* The creation of the "Office of Strategy Management", reporting to the
CEO, assuring alignment of all corporate initiatives with DTG
strategy.
* Expanded management span of control will be cascaded throughout the
organization enabling the organization to flatten and become more
responsive to the competitive environment.
Paxton said, "By flattening our organization, we will be faster, more flexible, and more efficient, and therefore, better able to meet future challenges. As we grow, we have to be careful not to get bogged down in bureaucracy and hierarchy. This is a decisive, yet disciplined action that will balance our need to control costs, while enabling us to respond more quickly and effectively to new opportunities and unexpected pressures."
Dollar Thrifty Automotive Group, Inc. is a Fortune 1000 Company headquartered in Tulsa, Oklahoma. Driven by the mission "Value Every Time," the Company's brands, Dollar Rent A Car and Thrifty Car Rental, serve value- conscious travelers in approximately 70 countries. Dollar and Thrifty have approximately 800 corporate and franchised locations in the United States and Canada, and they have operations at most major airports. The Company's more than 8,500 employees are located mainly in North America, but global service capabilities exist through an expanding international franchise network. For additional information, visit http://www.dtag.com/ .
Some of the statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Dollar Thrifty Automotive Group, Inc. believes such forward-looking statements are based upon reasonable assumptions, such statements are not guarantees of future performance and certain factors could cause results to differ materially from current expectations. These factors include: price and product competition; access to reservation distribution channels; economic and competitive conditions in markets and countries where the companies' customers reside and where the companies and their franchisees operate; natural hazards or catastrophes; incidents of terrorism; airline travel patterns; changes in capital availability or cost; costs and other terms related to the acquisition and disposition of automobiles; systems or communications failures; costs of conducting business and changes in structure or operations; and certain regulatory and environmental matters and litigation risks. Should one or more of these risks or uncertainties, among others, materialize, actual results could vary from those estimated, anticipated or projected. Dollar Thrifty Automotive Group, Inc. undertakes no obligation to update or revise forward- looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
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